Where do I input interest I received from a private (family) loan? I used to be able to input a SSN into the 1099-INT section but now it rquires a FEIN

[TomK2023 · Accepted solution]

The program is optimized for "institutional" payers (banks, brokerages) and requires a Federal Employer Identification Number (FEIN) format.

However, you must now enter your private loan interest earned in a different section of the program.

Enter Your "Seller-Financed" Interest (Even if this wasn't a mortgage or a house sale):

1. Open or continue your return.
2. Search for "seller-financed interest received" (or just "seller-financed") in the Search box.
3. Click on the "Jump to..." link.
4. When asked if this is "Interest from Seller-Financed Loans," Select "Yes".
5. Enter the family member's Name, Address, and SSN.
6. Enter the total interest amount.

By entering this information in this section:

• This method allows this money to flow correctly to Schedule B.
• It identifies it as interest from an individual. 
• It satisfies the IRS requirement to list the payer’s SSN (without causing an "Invalid FEIN" error).
• If the interest is over $1,500, the IRS technically requires that higher amounts be broken down on Schedule B.

[Mike9241]

sadly the programmers never considered this. shame shame. See if you can skip the EIN, if not, try a dummy number like 36-1234567 or enter the SSN as if it were xx-xxxxxxx. That should not be transmitted as part of the e-file.  Maybe others will have a different idea

[dana-weese]

Thanks for the help! I was getting pretty frustrated so I really appreciate the detailed response. It ended up working perfectly. As a side note, however, I was initially still having difficulty but I think it was because of the browser I was using. While signed into TurboTax using the Brave browser, even when I typed in the search exactly as you suggested I got the response "No Matching Result." However, when I signed into TurboTax using Safari your instructions worked out just as you indicated. Thanks again.

[VolvoGirl]

In my Desktop program I can enter it the regular way and just enter the name and amount.  It doesn't even ask me for a EIN or SSN or number.